> One major draw of Lego is their licensing of expensive creative IP.
This is the real genius beyond the manufacturing (which other comments are correctly praising). Lego was/is the only brand that gets to make, e.g. both Mikey Mouse and Bugs Bunny, both Marvel and DC, etc. By making Lego versions of those properties, they've convinced those enormous IP holders that this does not compete with other products; Disney can't make Lego Star Wars themselves.
Lego's corporate accomplishment is to have elevated themselves to the status of a platform. And doing so while their product isn't software or hardware is pretty unique.
This is the real genius beyond the manufacturing (which other comments are correctly praising). Lego was/is the only brand that gets to make, e.g. both Mikey Mouse and Bugs Bunny, both Marvel and DC, etc. By making Lego versions of those properties, they've convinced those enormous IP holders that this does not compete with other products; Disney can't make Lego Star Wars themselves.
Lego's corporate accomplishment is to have elevated themselves to the status of a platform. And doing so while their product isn't software or hardware is pretty unique.